Common use of Trust Shares Clause in Contracts

Trust Shares. Section 1.1. Subject to Article IX and the terms set forth in the Trust's registration statement, as may be amended from time to time, the Trust agrees to make shares of the Funds available for purchase by the Company and the Separate Accounts indefinitely, and the Distributor agrees to sell such shares to the Company and the Separate Accounts to the extent made available by the Trust, at the applicable net asset value per share ("NAV") by the Company and the Separate Accounts on each Business Day pursuant to the rules of the SEC. The Trust will execute purchase orders placed for each Separate Account on a daily basis at the NAV of each Fund computed after receipt by the Trust or its designee of such order. At Company's request, the Trust agrees to redeem for cash any full or fractional shares of the Fund held by the Company and Separate Accounts, on a daily basis at the NAV computed after receipt by the Trust or its designee of the request for redemption. However, if one or more Funds has determined to settle redemption transactions for all of its shareholders on a delayed basis (more than one Business Day, but in no event more than five Business Days, after the date on which the redemption order is received, and consistent with Section 22(e) of the 1940 Act and any rules or orders of the SEC thereunder), the Trust shall be permitted to delay sending redemption proceeds to Company by the same number of days that the Trust is delaying sending redemption proceeds to the other shareholders of the Funds; provided that in no event may any delay by the Trust in paying redemption proceeds cause the Company or Separate Accounts to fail to meet its obligations under Section 22(e) of the 1940 Act, or require the Company to pay redemption proceeds out of its general account. For purposes of this Section 1.1, Company shall be the agent of the Trust for receipt of purchase orders and redemption requests from each Separate Account and receipt by Company

Trust Shares. Section 1.1. Subject to Article IX and the terms set forth in the Trust's registration statement, as may be amended from time to time, the Trust agrees to make shares of the Funds available for purchase by the Company and the Separate Accounts indefinitely, and the Distributor agrees to sell such shares to the Company and the Separate Accounts to the extent made available by the Trust, at the applicable net asset value per share ("NAV") by the Company and the Separate Accounts on each Business Day pursuant to the rules of the SEC. The Trust will execute purchase orders placed for each Separate Account on a daily basis at the NAV of each Fund computed after receipt by the Trust or its designee of such order. At Company's request, the Trust agrees to redeem for cash any full or fractional shares of the Fund held by the Company and Separate Accounts, on a daily basis at the NAV computed after receipt by the Trust or its designee of the request for redemption. However, if one or more Funds has determined to settle redemption transactions for all of its shareholders on a delayed basis (more than one Business Day, but in no event more than five Business Days, after the date on which the redemption order is received, and consistent with Section 22(e) of the 1940 Act and any rules or orders of the SEC thereunder), the Trust shall be permitted to delay sending redemption proceeds to Company by the same number of days that the Trust is delaying sending redemption proceeds to the other shareholders of the Funds; provided that in no event may any delay by the Trust in paying redemption proceeds cause the Company or Separate Accounts to fail to meet its obligations under Section 22(e) of the 1940 Act, or require the Company to pay redemption proceeds out of its general account. For purposes of this Section 1.1, Company shall be the agent of the Trust for receipt of purchase orders and redemption requests from each Separate Account and receipt by CompanyCompany by the earlier of 4:00 p.m. (Eastern time) or the close of regular trading on the New York Stock Exchange (or such other time that the Trust determines the NAV as set forth in the prospectuses for the Funds) constitutes receipt by the Trust on that day, provided the Trust or the Trust's agent

Trust Shares. Section 1.1. Subject to Article IX and the terms set forth in the Trust's registration statement, as may be amended from time to time, the Trust agrees to make shares of the Funds Fund available for purchase by the Company and the Separate Accounts indefinitely, and the Distributor agrees to sell such shares to the Company and the Separate Accounts to the extent made available by the Trust, at the applicable net asset value per share ("NAV") by the Company and the Separate Accounts on each Business Day pursuant to the rules of the SEC. The Trust will execute purchase orders placed for each Separate Account on a daily basis at the NAV of each the Fund computed after receipt by the Trust or its designee of such order. At Company's request, the Trust agrees to redeem for cash any full or fractional shares of the Fund held by the Company and Separate Accounts, on a daily basis at the NAV computed after receipt by the Trust or its designee of the request for redemption. However, if one or more Funds Fund has determined to settle redemption transactions for all of its shareholders on a delayed basis (more than one Business Day, but in no event more than five Business Days, after the date on which the redemption order is received, and consistent with Section 22(e) of the 1940 Act and any rules or orders of the SEC thereunder), the Trust shall be permitted to delay sending redemption proceeds to Company by the same number of days that the Trust is delaying sending redemption proceeds to the other shareholders of the FundsFund; provided that in no event may any delay by the Trust in paying redemption proceeds cause the Company or Separate Accounts to fail to meet its obligations under Section 22(e) of the 1940 Act, or require the Company to pay redemption proceeds out of its general account. For purposes of this Section 1.1, Company shall be the agent of the Trust for receipt of purchase orders and redemption requests from each Separate Account and receipt by Company.

Trust Shares. Section 1.1. Subject to Article IX and the terms set forth in the Trust's ’s registration statement, as may be amended from time to time, the Trust agrees to make shares of the Funds available for purchase by the Company and the Separate Accounts indefinitely, and the Distributor agrees to sell such shares to the Company and the Separate Accounts to the extent made available by the Trust, at the applicable net asset value per share ("“NAV"”) by the Company and the Separate Accounts on each Business Day pursuant to the rules of the SEC. The Trust will execute purchase orders placed for each Separate Account on a daily basis at the NAV of each Fund computed after receipt by the Trust or its designee of such order. At Company's ’s request, the Trust agrees to redeem for cash any full or fractional shares of the Fund held by the Company and Separate Accounts, on a daily basis at the NAV computed after receipt by the Trust or its designee of the request for redemption. However, if one or more Funds has determined to settle redemption transactions for all of its shareholders on a delayed basis (more than one Business Day, but in no event more than five Business Days, after the date on which the redemption order is received, and consistent with Section 22(e) of the 1940 Act and any rules or orders of the SEC thereunder), the Trust shall be permitted to delay sending redemption proceeds to Company by the same number of days that the Trust is delaying sending redemption proceeds to the other shareholders of the Funds; provided that in no event may any delay by the Trust in paying redemption proceeds cause the Company or Separate Accounts to fail to meet its obligations under Section 22(e) of the 1940 Act, or require the Company to pay redemption proceeds out of its general account. For purposes of this Section 1.1, Company shall be the agent of the Trust for receipt of purchase orders and redemption requests from each Separate Account and receipt by Company.

Trust Shares. Section 1.1. Subject to Article IX and the terms set forth in the Trust's registration statement, as may be amended from time to time, the Trust agrees to make shares of the Funds available for purchase by the Company and the Separate Accounts indefinitely, and the Distributor agrees to sell such shares to the Company and the Separate Accounts to the extent made available by the Trust, at the applicable net asset value per share ("NAV") by the Company and the Separate Accounts on each Business Day pursuant to the rules of the SEC. The Trust will execute purchase orders placed for each Separate Account on a daily basis at the NAV of each Fund computed after receipt by the Trust or its designee of such order. At Company's request, the Trust agrees to redeem for cash any full or fractional shares of the Fund held by the Company and Separate Accounts, on a daily basis at the NAV computed after receipt by the Trust or its designee of the request for redemption. However, if one or more Funds has determined to settle redemption transactions for all of its shareholders on a delayed basis (more than one Business Day, but in no event more than five Business Days, after the date on which the redemption order is received, and consistent with Section 22(e) of the 1940 Act and any rules or orders of the SEC thereunder), the Trust shall be permitted to delay sending redemption proceeds to Company by the same number of days that the Trust is delaying sending redemption proceeds to the other shareholders of the Funds; provided that in no event may any delay by the Trust in paying redemption proceeds cause the Company or Separate Accounts to fail to meet its obligations under Section 22(e) of the 1940 Act, or require the Company to pay redemption proceeds out of its general account. For purposes of this Section 1.1, Company shall be the agent of the Trust for receipt of purchase orders and redemption requests from each Separate Account and receipt by CompanyCompany by the earlier of 4:00 p.m. (Eastern time) or the close of regular trading on the New York Stock Exchange (or such other time that the Trust determines the NAV as set forth in the prospectuses